Polyester Staple Fiber Market to Benefit from Rising Usage of Man-made Fibers in Textile Sector; Market to Exhibit 4.10% CAGR, says TMR

ALBANY, New York, October 12, 2018 /PRNewswire/ --

The global polyester staple fiber market has witnessed the foray of several new players in the past few years, rendering the vendor landscape increasingly concentrated and competitive, observes Transparency Market Research in a recent report. Despite this, the level of fragmentation among the numbered suppliers and the vast number of potential buyer remains low as the market features the need for high capital investment for establishing manufacturing facilities and large gestation period, making it challenging for small-scale players to establish themselves in the market. Companies in the market compete on the basis of product price, quality, and credit terms.

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Some of the leading companies in the market are Toray Industries Inc., Reliance Industries Limited, W. Barnet GmbH & Co. KG, China Petroleum & Chemical Corporation, Alpek S.A.B. de C.V., and Indorama Ventures Public Company Limited.

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According to the report, the polyester staple fiber market, which had a valuation of US$23.167 bn in 2016, will exhibit a moderate 4.10% CAGR over the period between 2017 and 2025, rising to a revenue opportunity of US$34.546 bn by 2025. Based on end use, the market acquires the largest share of its revenue from the apparel segment and the trend is likely to remain strong in the near future as well. Geographically, the market in Asia Pacific presently dominates and is likely to retain its dominant stance in the overall market by the end of the forecast period as well.

Rising Usage of Man-made Fibers in Several Application Areas to Drive Growth 

The global polyester staple fiber market has benefitted from the increased usage of manmade fibers across a number of conventional applications in the past few years. It has been found that the usage of manmade fibers in the textile sector has increased to nearly 65% of the overall fabric consumption in 2015, thanks to the excellent flexibility, strength, and variety of products made possible by manmade fibers along with a vast reduction in the cost of the final product. As a result, the consumption of polyester staple fibers has also increased in applications such as furniture, automotive, and apparel.